Teknia delivers turnover growth in the first half of the year despite market downturn
- The company reported a turnover of €178 million in H1 2022 and partially offset the impact of rising commodity and energy prices.
- In a difficult market environment, the Group maintains a moderate debt level which ensures stability and the company’s plans for the coming years
- Teknia has recently successfully integrated a new company, its first plant in Germany
Teknia, the Spanish multinational Group specialized in manufacturing metal and plastic components for mobility solutions, delivered turnover growth in the first half of 2022 in a market environment characterized by decreasing volumes in vehicle manufacturing and high commodity and energy prices.
Despite this challenging market environment, the Group increased sales by 2% compared to the first half of 2021, reaching a turnover of €178 million in H1 2022. This increase is 5 per centage points above sector performance in the markets the company operates in, where manufacturing volumes decreased by 3% in the same period, according to IHS data.
EBITDA for H1 2022 came in at €14.2 million and EBIT at €6.7 million. This way, the company managed to partially offset the impact of the high commodity and energy prices, although the EBITDA margin fell to 8%. The Group expects to improve margins in the second half of the year as it continues to pass on resulting cost increases to its customers. Leverage stood at 2.59x EBITDA at the end of H1, while the liquidity reserve reached €52.7 million to finance M&A operations in the short term. Investments in H1 amounted €5.9 million.
— Key financial data —
|in €m||H1 2021||H1 2022|
The Group’s First Plant in Germany
Teknia recently announced the acquisition of its first factory in Germany, located near Stuttgart, in the province of Baden-Württemberg in southern Germany. The facility, which is strategically connected to Teknia’s main customers, has more than 100 employees and recorded a turnover of around €24 million in 2021.
The new plant, renamed into Teknia Stuttgart, specializes in bar turning to produce various high-end suspension components. The relevance of these components for all types of vehicles secures the plant’s growth potential and will suppose additional resources for the Group.
“We achieved to be resilient in a highly complex environment for the mobility industry, with very significant price increases in both raw materials and energy, always looking to preserve our activity in the long term. We have met our budget for the First Half and we are on track to achieve our objectives for the Full Year, including year-on-year EBITDA growth. Moreover, in this complicated situation, the company has kept its debt at a reasonable level to seize opportunities in the future”, explained Javier Quesada de Luis, Managing Director of Teknia.
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